XRP Battles Key Resistance as $3 Target Looms Amid ETF and Futures Launch News

XRP, the fourth-largest cryptocurrency by market cap, is at a critical point as it struggles to break above key resistance near $2.18. Over the past four days, XRP has attempted to decisively breach the daily 50-day simple moving average (SMA), reaching an intraday high of $2.24. However, strong selling pressure quickly forced the price back below the SMA 50, signaling that bears are aggressively defending the level.

Currently trading at $2.19, XRP is down 0.12% in the last 24 hours, hovering near the crucial moving average. Traders are closely watching for a confirmed breakout above the 50-day SMA, which could fuel a rally toward the $3 mark. Failure to break higher could see XRP slip below $2.13, with a steeper decline possible if the price falls under $2, potentially targeting $1.60.

Adding to the bullish narrative, Hashdex launched the world’s first XRP ETF, XRPH11, on the Brazilian stock exchange. The fund, managed by Genial Investimentos and custodied by Genial Bank SA, offers regulated exposure to XRP, signaling growing institutional interest. Meanwhile, CME Group announced plans to introduce cash-settled XRP futures on May 19, pending regulatory approval. This development could further boost XRP’s liquidity and visibility among traditional investors.

As XRP consolidates, the battle around the $2.18 level will be crucial. A successful breakout could validate the bullish momentum, while failure risks triggering a deeper correction. With ETF launches and futures trading on the horizon, XRP remains a token to watch closely in the coming weeks.